Manufacturing Campus with Cold
For Sale
Contact for pricing
1220 E 9 Mile Road, Ferndale, MI 48220
Fully occupied headquarters and production campus supporting refrigerated food manufacturing and distribution operations.
Property Size95,718 SF
Price / SF$73.13
Days on Market109
Property Features for 1220 E 9 Mile Road
General Information
Standard status
Active
Size
95,718 SF
Total Parking Spaces
128
Property subtype
Industrial
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$493,016
Additional Details
Cold Storage
Yes
Building Details
Buildings
6
Tenancy
Single
Listing Agency:
Savills
Listed By:
Addison Williams · License #MI 6501406933
Source:
Crexi
Added: Jun 29
Changed: Oct 10
Last Checked: Oct 15 at 12:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Savills
Investment Insights
Based on property information with market context.
The property is a 95,718-square-foot manufacturing campus comprising six buildings at 1220 E 9 Mile Road in Ferndale, Michigan. Garden Fresh Gourmet occupies the entire site, which functions as the company’s headquarters and primary manufacturing facility for salsa, hummus, and dips. Most of the campus uses a cold or refrigerated production environment suited to food manufacturing operations.
The property is leased on an NNN basis, with the landlord responsible only for roof and structural repair and replacement. Garden Fresh Gourmet has exercised its first five-year renewal option, and the following option period includes a fair-market-value rent adjustment. The company has operated from this location since its founding in 1997.
The campus is associated with a product line that includes refrigerated salsa, hummus, dips, tortilla chips, and soup, providing a specialized manufacturing setting with an established corporate and operational presence.
The property is leased on an NNN basis, with the landlord responsible only for roof and structural repair and replacement. Garden Fresh Gourmet has exercised its first five-year renewal option, and the following option period includes a fair-market-value rent adjustment. The company has operated from this location since its founding in 1997.
The campus is associated with a product line that includes refrigerated salsa, hummus, dips, tortilla chips, and soup, providing a specialized manufacturing setting with an established corporate and operational presence.
Key Highlights
- 95,718‑square‑foot campus comprising six buildings
- 100% occupied by Garden Fresh Gourmet
- Cold or refrigerated production environment across most of the footprint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$575,872
Cap Rate
8.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,517,440
$11.5M
Cap Rate 7%
$8,226,743
$8.2M
Cap Rate 9%
$6,398,578
$6.4M
Market Conditions
NOI Build-Up for 95,718 SF
Gross rent
$703.5K $7.35/SF
− Vacancy
−$26.0K −$0.27/SF
EGI
$677.5K $7.08/SF
− OpEx
−$101.6K −$1.06/SF
NOI
$575.9K $6.02/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,517,440
Cap Rate 7%
$8,226,743
Cap Rate 9%
$6,398,578
Alternative Uses
Best Use
Warehouse
$8.23M
$7.20M – $9.60M
NOI $575,872 @ 7.0% cap · market cap 8.23%
Second Best
Industrial
$6.77M
$5.93M – $7.90M
NOI $474,248 @ 7.0% cap · market cap 6.77%
Theoretical Best
Specialty Retail
$20.65M
$18.06M – $24.09M
NOI $1,445,189 @ 7.0% cap · market cap 20.65%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,475
Businesses Nearby
Explore this area
Business Placement
Demographics for 48220, MI
21,564
Population
12,003
Households
1.8
Avg Household Size
37
Median Age
53%
College-Educated
96%
High-School Grad
4.4 sq mi
ZIP Area
4,901
Density / Sq Mi
$86,095
Median Household Income
$54,557
Median Earnings
$1,191
Median Rent
$229,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Fully occupied headquarters and production campus supporting refrigerated food manufacturing and distribution operations.
Where is this manufacturing property located?
The property is located at 1220 E 9 Mile Road Ferndale, MI.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: 95,718‑square‑foot campus comprising six buildings; 100% occupied by Garden Fresh Gourmet; Cold or refrigerated production environment across most of the footprint
